Continue reading this on our app for a better experience

Open in App
Home News REITs

OUE REIT prices $250 mil of green notes due 2027

Felicia Tan
Felicia Tan • 2 min read
OUE REIT prices $250 mil of green notes due 2027
Hilton Singapore Orchard, one of the properties in the REIT's portfolio. Photo: OUE REIT
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

The manager of OUE LJ3 -

REIT has priced $250 million of green notes under its $2 billion multicurrency debt issuance programme.

The notes will bear an interest rate of 4.1% per annum and interest on the notes will be payable semi-annually in arrear. The notes will mature on June 14, 2027.

The issuer may choose to redeem all of the notes, at its option, at any time at 100% of their principal amount plus accrued and unpaid interest if the amount outstanding is less than 10% of the principal amount issued.

The REIT and the notes are rating “BBB-“ by S&P Global Ratings. The notes are expected to be issued on June 14 and expected to be listed on the SGX on June 18.

Oversea-Chinese Banking Corporation Limited (OCBC) is the sole global coordinator, while DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited (HSBC) and OCBC are the joint lead managers and bookrunners of the offering of the notes.

Industrial and Commercial Bank of China Limited (ICBC) is the joint lead manager and bookrunner (no book) of the offering of the notes. OCBC is also the green finance adviser to the issuer for the offering of the notes.

See also: Mapletree Logistics Trust’s manager guides for negative rental reversions ‘over the next few quarters’

According to the REIT manager, the net proceeds from the notes will go to financing or refinancing its new or existing eligible green projects that meet one or more of the categories recognised in the green bond principles and green loan principles under the REIT’s green financing framework.

Units in OUE REIT closed at 27 cents on June 5.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.